Bath fittings and sanitaryware major Jaquar Group is nearly doubling its manufacturing facility for faucets with an investment of Rs 150 crore as it targets 25 per cent growth in revenues to Rs 3,000 crore this fiscal, a top company official said.
"We are expanding our manufacturing facility by 30,000 square meters for faucets in Bhiwadi, Rajasthan, which will be operational by the middle of next year," Rajesh Mehra, the director and promoter of Jaquar Group, told PTI.
The facility is spread over 35,000 sq meters.
It has another 48,000 sq meters plant in Manesar, Haryana where it manufactures wellness products, shower enclosures, water heaters, sanitaryware and lighting products, besides bath fittings.
The company recently entered the lighting segment.
"We are setting up a new manufacturing unit for lighting solutions in Manesar that will be operational in another month or two," he added.
Headquartered in Manesar, the company exports to over 30 countries.
"We are exporting to over 30 countries in Middle East, Africa, Far East, South Asia and of late, Europe. We will continue to build on these markets," Mehra added.
Jaquar, which earlier saw about 80 per cent of its revenue from faucets, aims to change the figure to about 50 per cent in three to four years, he said.
The company has revamped one of its brands Essco in terms of products, design and features for value customers.
Mehra said that besides developed metro markets, the group is sensing good potential in semi-urban and rural markets, which it is looking to tap with its value brand Essco.
"We are focussing on value, premium and luxury segments equally and are giving a lot of focus on development of rural markets," he added.
The company created a team to develop and promote its products in rural markets last fiscal.
The company clocked a turnover of Rs 2,350 in 2015-16, of which Jaquar, its premium brand, accounted for almost 90 per cent.
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